Oil Companies Announce Green Fund–But There’s a Catch

Oil Companies Announce Green Fund--But There's a CatchWhen it comes to oil company citizenship, this is probably about as good as it gets.  It’s a $1 billion investment in cleaning up some of the noxious byproducts of fossil fuel consumption, with a refusal to spend a nickel on the development of clean energy.

Hey, as we’ve seen so often over the past few decades, it could have been a heck of a lot worse.

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One comment on “Oil Companies Announce Green Fund–But There’s a Catch
  1. marcopolo says:

    Craig,

    Over the last 30 years Western Oil companies, including Exxon, have spent hundreds of $ billions, even $ trillions, on alternate energy research. Most of the projects ended in failure as the technologies failed the test of commercialization.

    Some, like Chevron’s Geo-Thermal projects are continuing, despite having been long abandoned by governments.

    A fund to aid research into eliminating the more harmful effects of oil products is a good thing, and shouldn’t be an excuse for the usual collection of oil haters to demand impractical reductions of oil usage supported by long discredited rhetoric.